Core Alternative Capital Sells 803 Shares of AbbVie Inc. (NYSE:ABBV)

Core Alternative Capital decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 20.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,134 shares of the company’s stock after selling 803 shares during the period. Core Alternative Capital’s holdings in AbbVie were worth $557,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. GGM Financials LLC lifted its holdings in shares of AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after acquiring an additional 50 shares during the last quarter. Dillon & Associates Inc. lifted its stake in AbbVie by 0.8% in the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after purchasing an additional 52 shares during the last quarter. WFA Asset Management Corp lifted its stake in AbbVie by 0.8% in the third quarter. WFA Asset Management Corp now owns 7,003 shares of the company’s stock worth $1,383,000 after purchasing an additional 55 shares during the last quarter. First Bancorp Inc ME lifted its stake in AbbVie by 2.6% in the third quarter. First Bancorp Inc ME now owns 2,240 shares of the company’s stock worth $442,000 after purchasing an additional 56 shares during the last quarter. Finally, Carr Financial Group Corp lifted its stake in AbbVie by 1.1% in the third quarter. Carr Financial Group Corp now owns 5,274 shares of the company’s stock worth $1,041,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research note on Friday, November 22nd. Truist Financial raised their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Bank of America reissued a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Finally, UBS Group lifted their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.35.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

Shares of ABBV opened at $190.31 on Tuesday. The firm has a market capitalization of $336.30 billion, a PE ratio of 79.29, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company’s fifty day moving average price is $177.54 and its 200-day moving average price is $185.75.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same quarter last year, the company earned $2.79 EPS. On average, equities research analysts predict that AbbVie Inc. will post 12.32 EPS for the current year.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.